Economy

May 2018 at a Glance

Written by Brett Linton


Steel Market Update adjusted its price momentum indicator from neutral to higher in late May. Across the month, hot rolled steel prices averaged $886 per ton (up $13 over April), while cold rolled was at $1,007 (up $1), galvanized at $1,100 (unchanged), Galvalume at $1,322 (up $6), and plate at $966 (down $8).

The SMU Buyers Sentiment Index three-month moving average (3MMA) continues to inch down from the March high.

We are seeing a reduction in the monthly average capacity utilization rates, with the May average at 75.6 percent.

Active U.S. drilling rigs have increased consistently and ended May at 1,059 operating units.

Those are some of the highlights for the month of May. See the month-at-a-glance below for much more information on market conditions.

To see a history of our monthly review tables, visit our website

Brett Linton

Read more from Brett Linton

Latest in Economy

CRU: Dollar and bond yields rise, metal prices fall as Trump wins election

Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda. What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.